ING Groep NV (NYSE:ING) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $11.40 and last traded at $11.52, with a volume of 308800 shares. The stock had previously closed at $11.93.
Several research firms have commented on ING. Zacks Investment Research downgraded ING Groep from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine upgraded ING Groep from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. Morgan Stanley upgraded ING Groep from an “underweight” rating to an “equal weight” rating in a report on Friday, November 2nd. Royal Bank of Canada restated a “neutral” rating on shares of ING Groep in a report on Thursday, November 1st. Finally, JPMorgan Chase & Co. downgraded ING Groep from an “overweight” rating to a “neutral” rating in a report on Monday, September 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $21.00.
The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.29. The stock has a market cap of $45.04 billion, a PE ratio of 7.92 and a beta of 1.22.
A number of hedge funds and other institutional investors have recently made changes to their positions in ING. Belpointe Asset Management LLC bought a new stake in ING Groep during the 3rd quarter valued at $116,000. Hilltop Holdings Inc. bought a new stake in ING Groep during the 3rd quarter valued at $130,000. Bailard Inc. bought a new stake in ING Groep during the 3rd quarter valued at $133,000. Russell Investments Group Ltd. bought a new stake in ING Groep during the 3rd quarter valued at $136,000. Finally, Rhumbline Advisers bought a new stake in ING Groep during the 3rd quarter valued at $142,000. 3.47% of the stock is currently owned by institutional investors and hedge funds.
ING Groep Company Profile (NYSE:ING)
ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.
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